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Tue, 15 Sept 2026
07:03:49 pm
Tue, 15 Sept 2026
07:03:49 pm
Rudransh Sangwan
Published at: August 14, 2026, 12:23 PM
Synopsis
Lalithaa Jewellery Mart IPO opens August 17 with a ₹190-₹201 price band. Check IPO GMP, ₹1,700 crore issue details, financials, valuation and listing date.
Lalithaa Jewellery Mart IPO is set to open for subscription on August 17, 2026, and close on August 19. The ₹1,700 crore book-building issue has a price band of ₹190 to ₹201 per share and consists of a fresh issue of 5.97 crore shares worth up to ₹1,200 crore and an offer for sale of 2.49 crore shares worth ₹500 crore. The company is proposing to list its shares on NSE and BSE, with the tentative listing date set for August 24. At the upper price band, the post-issue market capitalisation is ₹11,250.17 crore. Retail investors can apply for a minimum of 74 shares, requiring ₹14,874 at the upper price band.
Lalithaa Jewellery Mart reported a strong improvement in its financial performance in FY26. Total income increased to ₹25,039.80 crore from ₹16,907.88 crore in FY25, while profit after tax rose to ₹1,009.82 crore from ₹364.73 crore. The company operates a jewellery retail business focused on mass and value-conscious customers, with a strong presence across South India and Tier II and Tier III cities. The IPO has a post-issue P/E of 11.14 times, while ROE is 41.60% and ROCE is 42.60%. The latest grey market premium is ₹35, implying an estimated listing price of ₹236 at the upper price band.
Lalithaa Jewellery Mart is raising ₹1,700 crore through a combination of fresh issue and offer for sale. The company will receive up to ₹1,200 crore from the fresh issue, while promoter Kiran Kumar Jain will sell 2.49 crore shares worth ₹500 crore. The IPO has a face value of ₹5 per share and a lot size of 74 shares.
| IPO metric | Details |
|---|---|
| IPO size | ₹1,700 crore |
| Fresh issue | ₹1,200 crore |
| Offer for sale | ₹500 crore |
| Price band | ₹190 to ₹201 |
| Face value | ₹5 |
| Lot size | 74 shares |
| Retail minimum investment | ₹14,874 |
| Post-issue market cap | ₹11,250.17 crore |
| Issue type | Book building |
| Listing | NSE, BSE |
| IPO opens | August 17, 2026 |
| IPO closes | August 19, 2026 |
| Allotment | August 20, 2026 |
| Listing | August 24, 2026 |
Lalithaa Jewellery Mart IPO's latest GMP is ₹35 as of August 14, 2026, at 4:28 PM. At the upper price band of ₹201, this gives an estimated listing price of ₹236 and an estimated gain of 17.41%. The GMP stood at ₹41 on August 12 before moving to ₹38 on August 13 and ₹35 on August 14. Over the five sessions provided, the GMP ranged from ₹0 to ₹41. The supplied data also shows a retail "subject to sauda" amount of ₹2,000 and a small HNI "subject to sauda" amount of ₹28,000.
| GMP date | IPO price | GMP | Estimated listing price | Estimated gain/loss | Last updated |
|---|---|---|---|---|---|
| August 14, 2026 | ₹201 | ₹35 | ₹236 | 17.41% | August 14, 4:28 PM |
| August 13, 2026 | ₹201 | ₹38 | ₹239 | 18.91% | August 13, 11:32 PM |
| August 12, 2026 | ₹201 | ₹41 | ₹242 | 20.40% | August 12, 11:37 PM |
| August 11, 2026 | ₹201 | ₹17 | ₹218 | 8.46% | August 11, 11:37 PM |
| August 10, 2026 | ₹201 | ₹0 | ₹201 | 0% | August 10 |
GMP is sourced from grey market dealers and is indicative only. It can change before listing and does not guarantee the actual listing price.
Lalithaa Jewellery Mart was incorporated in November 1985 and is a jewellery retail company with a strong regional presence across South India. It caters mainly to mass and value-conscious customers and sells gold, silver, diamond, precious and semi-precious jewellery. The company operates through Large Format Stores and Medium Format Stores and has a presence in Tier II and Tier III cities. Its business model includes backward integration, inventory management and quality control. The company also offers jewellery schemes. As of March 31, 2026, it had 7,059 employees.
Lalithaa Jewellery Mart's total income increased 48% to ₹25,039.80 crore in FY26 from ₹16,907.88 crore in FY25. Profit after tax increased 177% to ₹1,009.82 crore from ₹364.73 crore. Net worth increased to ₹3,033.14 crore from ₹2,028.80 crore, while reserves and surplus rose to ₹2,679.74 crore from ₹1,675.39 crore. Total borrowings also increased to ₹1,604.14 crore from ₹949.26 crore.
| Financial metric | FY24 | FY25 | FY26 |
|---|---|---|---|
| Total assets | ₹5,182.26 crore | ₹6,929.68 crore | ₹10,945.14 crore |
| Total income | ₹16,800.62 crore | ₹16,907.88 crore | ₹25,039.80 crore |
| Profit after tax | ₹359.83 crore | ₹364.73 crore | ₹1,009.82 crore |
| Net worth | ₹1,667.78 crore | ₹2,028.80 crore | ₹3,033.14 crore |
| Reserves and surplus | ₹1,552.46 crore | ₹1,675.39 crore | ₹2,679.74 crore |
| Total borrowings | ₹824.18 crore | ₹949.26 crore | ₹1,604.14 crore |
At the upper price band of ₹201, the post-issue P/E is 11.14 times, compared with 9.95 times before the issue. The market capitalisation at the offer price is ₹11,250.17 crore. The company reported ROE of 41.60%, ROCE of 42.60%, RoNW of 39.90% and a debt-to-equity ratio of 0.53. Its NAV is ₹58.60 and price-to-book value is 3.43 times.
| Valuation metric | IPO figure |
|---|---|
| EPS pre-issue | ₹20.20 |
| EPS post-issue | ₹18.04 |
| P/E pre-issue | 9.95x |
| P/E post-issue | 11.14x |
| Market cap at offer price | ₹11,250.17 crore |
| ROE | 41.60% |
| ROCE | 42.60% |
| Debt/Equity | 0.53 |
| RoNW | 39.90% |
| PAT margin | 4.04% |
| NAV | ₹58.60 |
| Price to book | 3.43x |
The company plans to use the IPO proceeds towards setting up 10 new stores and their inventory requirements. It has identified ₹34.55 crore for capital expenditure covering furniture, fixtures, equipment, IT hardware and software, while ₹998.68 crore is planned for inventory costs for the new stores. The remaining amount is intended for general corporate purposes.
| IPO object | Amount |
|---|---|
| Capital expenditure for 10 new stores | ₹34.55 crore |
| Inventory for 10 new stores | ₹998.68 crore |
| General corporate purposes | Balance |
| Total stated amount | ₹1,033.23 crore |
Promoter and promoter group holding is 97.72% before the IPO and is expected to fall to 82.85% after the issue. Public shareholding is expected to increase from 2.28% to 17.15%. Kiran Kumar Jain, a promoter, is offering 2.49 crore shares through the offer for sale, amounting to ₹500 crore.
| Shareholder category | Pre-IPO | Post-IPO |
|---|---|---|
| Promoter and promoter group | 97.72% | 82.85% |
| Public | 2.28% | 17.15% |
| Total | 100% | 100% |
Lalithaa Jewellery Mart plans to expand its retail network by setting up 10 new stores using the fresh issue proceeds. The company has a strong presence in South India and focuses on mass and value-conscious customers. Its presence in Tier II and Tier III cities, Large Format Stores and Medium Format Stores, jewellery schemes, own manufacturing and inventory management are part of its business model. The company also reported a sharp increase in revenue and PAT in FY26.
The company's total borrowings increased to ₹1,604.14 crore in FY26 from ₹949.26 crore in FY25. A large portion of the stated IPO proceeds is planned for inventory for 10 new stores. The promoter and promoter group will continue to hold 82.85% after the IPO. The post-issue P/E of 11.14 times is also higher than the pre-issue P/E of 9.95 times.
The IPO is reserved for different investor categories, with QIBs receiving not more than 50% of the offer, retail investors receiving not less than 35% and NIIs receiving not less than 15%. Retail investors can apply for a minimum of 74 shares. Anand Rathi Advisors Ltd. and Equirus Capital Ltd. are the lead managers, while MUFG Intime India Pvt. Ltd. is the registrar.
| Event | Date |
|---|---|
| IPO opens | August 17, 2026 |
| IPO closes | August 19, 2026 |
| Allotment | August 20, 2026 |
| Refund | August 21, 2026 |
| Credit of shares | August 21, 2026 |
| Listing | August 24, 2026 |
Lalithaa Jewellery Mart's IPO combines a ₹1,200 crore fresh issue with a ₹500 crore offer for sale. The company reported strong growth in FY26, with total income rising to ₹25,039.80 crore and PAT reaching ₹1,009.82 crore. The fresh capital is mainly planned for 10 new stores and their inventory. The latest GMP of ₹35 points to an estimated listing price of ₹236 at the upper price band. Investors can also track the company's borrowings, valuation, store expansion and financial performance as the IPO progresses.
The Lalithaa Jewellery Mart IPO price band is ₹190 to ₹201 per share.
The lot size is 74 shares. The minimum retail investment at the upper price band is ₹14,874.
The IPO will open on August 17, 2026 and close on August 19, 2026.
The latest Lalithaa Jewellery Mart IPO GMP is ₹35, based on the data updated on August 14, 2026, at 4:28 PM.
At the upper price band of ₹201 and a GMP of ₹35, the estimated listing price is ₹236, indicating an estimated gain of 17.41%.
The IPO size is ₹1,700 crore, comprising a ₹1,200 crore fresh issue and a ₹500 crore offer for sale.
The tentative listing date is August 24, 2026 on NSE and BSE.
At the upper price band, the post-issue P/E is 11.14 times.
The company's total income was ₹25,039.80 crore in FY26, while profit after tax was ₹1,009.82 crore.
The company plans to use the proceeds for 10 new stores, including ₹998.68 crore for inventory and ₹34.55 crore for capital expenditure related to the stores.
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